CalPERS chief investment officer Stephen Gilmore said the $650 billion fund’s upcoming shift to a total portfolio approach will sharpen investment accountability and help it focus capital allocation decisions on fund-level objectives.
Listen to the detailed interview between Top1000funds.com editor Amanda White and CalPERS' CIO Stephen Gilmore to gain insights into how a TPA mindset has the potential, through a shared focus on the total portfolio, to add value, simplify accountability and open new opportunities for investments.
Stephen Gilmore says he can add 50 to 60 basis points to portfolio returns by using a total portfolio approach. In a long interview, Amanda White spoke to the CIO of CalPERS about why a TPA mindset can add value, simplify accountability and open new opportunities for investments.
New Zealand Super just returned its best-ever result of nearly 30 per cent. In addition to the gains from its overweight position to equities the fund also fully hedged the currency. Amanda White explores the fund’s strategy and the risk budgeting review currently under way.
NZ Super's recent five-year reference portfolio review saw much debate over currency risk, with the discussion elevating to the board - an unusual situation for the fund whose internal IC usually makes recommendations to the board.
With its 10th birthday looming, the Future Fund is entering its next incarnation complete with a new investment team structure. AMANDA WHITE spoke to Raphael Arndt, Stephen Gilmore and David Neal. When David Neal, the inaugural chief investment officer of the Future Fund, became its managing director on August 4 last year, his previous role
Top1000funds.com is the market leading news and analysis site for the world’s largest institutional investors. It focuses on leading the global investment industry to continuous improvement through case studies of best practice in governance and decision making, portfolio construction and efficient portfolio management, fees and costs, and sustainable investing.
The publication pushes the industry to question whether status quo processes and behaviours to tackle risks and opportunities will be sufficient in the future, and actively campaigns for diversity, sustainability, transparency, innovation and better alignment of fees in the investment industry.
Top1000funds.com is read by investment professionals in more than 40 countries.
FIS 2026 at Harvard University